Adani raises $5.25 bn from global banks to fund acquisition of Ambuja, ACC

The Adani family is acquiring Ambuja and ACC with a capacity of 70 mtpa at a total cost of $10.5 billion, including the open offers to be made to the minority shareholders of the companies

Shepherded by BNP Paribas, Barclays, and Citigroup, top international banks have endorsed Adani Group’s plans of acquiring Swiss firm Holcim’s stake in Ambuja Cements and ACC. The group raised $5.25 billion as debt financing, acknowledging support to the acquisition from international bankers.

A banking source said DBS Bank, Emirates NBD, First Abu Dhabi Bank, ING Bank, Intesa Sanpaolo of Italy, Mizuho Bank, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Bank of Japan, and Qatar National Bank have also lent funds to Adani Group for the acquisition.

The Adani family is acquiring Ambuja and ACC with a capacity of 70 million tonnes